BUL 3320 Chapter 48 Exam Questions
and Answers
joint tenancy - ANSWER-a form of co ownership that includes the right of
survivorship
right of survivorship - ANSWER-a legal rule that states if one of the joint tenants dies
the other one inherits full interest in the real property
tenancy in common - ANSWER-form of co ownership in which interest of a surviving
tenant in common passes to the deceased tenants estate and not tot he co-tenant
Tenancy by the Entirety - ANSWER-form of co ownership of real property only used
by married couples
deed - ANSWER-instrument that describes a persons ownership interest in a piece
of real property
grantor - ANSWER-party transferring interest
grantee - ANSWER-person receiving interest
general warrantly deed - ANSWER-deed that protects a grantee from defects in title
caused by the grantor and the prior owners of the property
special warranty deed - ANSWER-deed that protects grantee from defects in title
caused by grantor
quitclaim deed - ANSWER-deed in which the grantor transfers whatever interest he
has in the property to the grantee
recording statutes - ANSWER-state statute that requires a mortgage or deed of trust
to be recorded in the county recorders office of the county which the real property is
located
easement - ANSWER-given or required right to make limited use of someone Elses
land without owning or leasing it
license - ANSWER-document that grants a person the right to enter upon anothers
property for a specified and usually short period of time
Real Property - ANSWER-immovable or attached to immovable land or buildings
and Answers
joint tenancy - ANSWER-a form of co ownership that includes the right of
survivorship
right of survivorship - ANSWER-a legal rule that states if one of the joint tenants dies
the other one inherits full interest in the real property
tenancy in common - ANSWER-form of co ownership in which interest of a surviving
tenant in common passes to the deceased tenants estate and not tot he co-tenant
Tenancy by the Entirety - ANSWER-form of co ownership of real property only used
by married couples
deed - ANSWER-instrument that describes a persons ownership interest in a piece
of real property
grantor - ANSWER-party transferring interest
grantee - ANSWER-person receiving interest
general warrantly deed - ANSWER-deed that protects a grantee from defects in title
caused by the grantor and the prior owners of the property
special warranty deed - ANSWER-deed that protects grantee from defects in title
caused by grantor
quitclaim deed - ANSWER-deed in which the grantor transfers whatever interest he
has in the property to the grantee
recording statutes - ANSWER-state statute that requires a mortgage or deed of trust
to be recorded in the county recorders office of the county which the real property is
located
easement - ANSWER-given or required right to make limited use of someone Elses
land without owning or leasing it
license - ANSWER-document that grants a person the right to enter upon anothers
property for a specified and usually short period of time
Real Property - ANSWER-immovable or attached to immovable land or buildings
